Personal > Loans > Educational Loans

Purpose: To cover the full student expenses (tuition, living expenses, general student expense, etc.) for Higher Education studies, in Cyprus or abroad.
Maximum Loan Amount : With tangible securities or cash collateral: €80.000 for 1 child or €140.000 a total for more children.
Without tangible securities: €30.000
Maximum Repayment Period: With tangible securities or cash collateral: 20 years or until the applicant’s 65th year of age, whichever applies first.
Without tangible securities 10 years or until the applicant’s 65th year of age, whichever applies first.
Applies to : Permanent residents of Cyprus aged 18-65 years old.
Grace Period: Interest paid ONLY with the maximum period of 5 years.
Currency: Euro
Interest: Variable Interest based on the collateral offered:

Collateral Interest Rate Annual Percentage Rate of Charge (APRC) Estimated Monthly Instalment Total Payment Amount
Without Tangible Securities BBR + 0,45% 5,69% €323,65 €39.078,47
With Tangible Securities EURIBOR 6M + 4,15% 4,45% 305,88 37.002,44
With cash collateral 1,00% above deposit interest rate of the blocked deposit N/A N/A N/A

BBR = Bank Base Rate 4,92%
Euribor 6M:  The Bank sets a minimum percentage of 0% for Euribor 6 months.
The APRC has been calculated for an educational loan of €30.000, repayment period of 10 years, with initial bank fees (Arrangement, documentation and stamps duty).

Arrangement fees:    0,50% on the loan amount
Documentation fees:  €50
Early repayment fees:  None


Under the discretion of the Bank, depending on the loan amount and repayment period:

  • Tangible securities (blocking of funds, mortgage).
  • Assignment of Life Insurance of the debtor.
  • Assignment of Student’s Accident Insurance at the country he/she will study.
  • Personal guarantees.

Additional benefits

  • Free electron card, access on ibank, participation on the fun points scheme, SMS service alerts.
  • A student bag as a gift.


  • The Bank reserves the right to decline any application based on its judgement and to withdraw any product at any time.
  • The granting of facilities is subject to the satisfactory assignment of collateral by the debtor.
  • The facility’s interest rate and instalment may be amended at any time by the Bank, provided that there is a change of the base interest rate linked with the facility.
  • You are at the risk of losing your immovable property, if you do not repay the loan instalments of your mortgage loan.

For more information about the product, terms & conditions, you can refer to any USB Bank Branch, or Customer Teleservice Center